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Allisa [31]
3 years ago
7

Mark and Parveen are the parents of three young children. Mark is a store manager in a local supermarket. His gross salary is $7

5,000 per year. Parveen is a full-time stay-at-home mom. Use the easy method to estimate the family’s life insurance needs.
Business
1 answer:
netineya [11]3 years ago
5 0

Answer:

$367,500

Explanation:

Estimation of the family’s life insurance needs

Using the easy method

Based on the information given we were told that Mark gross salary is $75,000 while is wife

Parveen is a stay-at-home mom this means that we would be using the easy method to estimate the family’s life insurance needs based on Mark gross salary of $75,000 because he is the only one that earn on a monthly basis.

Insurance need =$75,000 x 7 years x 70%

Insurance need = $367,500

Therefore the family’s life insurance needs will be $367,500

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Explanation:

Hope this helps :D

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